Equity Profile

AU

AngloGold Ashanti plc

MaterialsGold$42.5B

Aug20Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

AngloGold Ashanti plc is a global gold mining company based in the materials sector. With a market cap of $43 billion, it plays a significant role in the gold industry, which is influenced by factors such as commodity prices and global economic conditions.

Key Metrics to Watch

Gold Production

This metric indicates the company's operational efficiency and ability to meet market demand.

N/A

Cost of Production

Understanding production costs helps gauge profitability and operational health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an earnings per share (EPS) of $2.52, exceeding estimates by 14.03%. The stock reacted positively, gaining 6.78% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent EPS beat. However, the lack of analyst estimates adds uncertainty to expectations.

Bull Case

If the company continues to show strong production and manages costs effectively, it could lead to higher profits and a positive stock reaction.

Bear Case

Conversely, if production costs rise or gold prices decline, it could negatively impact earnings, leading to a disappointing report.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected gold production for the quarter?

Gold production levels are critical for assessing the company's operational performance and future revenue potential.

What are the current production costs and how do they compare to previous quarters?

Understanding production costs will help investors gauge profitability and the impact of market conditions on the company's financial health.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the impact of rising gold prices on profitability, which could lead to a stronger than expected earnings report.

Supporting Evidence

Recent trends show gold prices have increased, which could enhance revenue.

The company's operational efficiency improvements may not be fully reflected in current estimates.

Key Risk

If production costs come in lower than expected, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is focused on how production levels and costs will influence overall profitability this quarter.

Bull Confirmed If

Gold production exceeding 1 million ounces would confirm strong operational performance.

Bear Confirmed If

Production costs rising above $1,200 per ounce would indicate potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold Ashanti beats expectations, history suggests a potential stock increase of around 2.86%, confirming positive operational momentum.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see muted movement.

Miss

In the event of a miss, history suggests a potential decline of around 1.78%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on gold production targets and actual output figures.
2Details on cost management strategies and any changes in production costs.
3Insights into market demand for gold and pricing trends.
4Any commentary on geopolitical factors affecting gold prices.
5Management's outlook for the remainder of the fiscal year.

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Company Snapshot

Key Metrics to Watch

Gold Production

This metric indicates the company's operational efficiency and ability to meet market demand.

N/A

Cost of Production

Understanding production costs helps gauge profitability and operational health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an earnings per share (EPS) of $2.52, exceeding estimates by 14.03%. The stock reacted positively, gaining 6.78% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent EPS beat. However, the lack of analyst estimates adds uncertainty to expectations.

Bull Case

If the company continues to show strong production and manages costs effectively, it could lead to higher profits and a positive stock reaction.

Bear Case

Conversely, if production costs rise or gold prices decline, it could negatively impact earnings, leading to a disappointing report.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected gold production for the quarter?

Gold production levels are critical for assessing the company's operational performance and future revenue potential.

What are the current production costs and how do they compare to previous quarters?

Understanding production costs will help investors gauge profitability and the impact of market conditions on the company's financial health.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the impact of rising gold prices on profitability, which could lead to a stronger than expected earnings report.

Supporting Evidence

Recent trends show gold prices have increased, which could enhance revenue.

The company's operational efficiency improvements may not be fully reflected in current estimates.

Key Risk

If production costs come in lower than expected, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is focused on how production levels and costs will influence overall profitability this quarter.

Bull Confirmed If

Gold production exceeding 1 million ounces would confirm strong operational performance.

Bear Confirmed If

Production costs rising above $1,200 per ounce would indicate potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold Ashanti beats expectations, history suggests a potential stock increase of around 2.86%, confirming positive operational momentum.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see muted movement.

Miss

In the event of a miss, history suggests a potential decline of around 1.78%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on gold production targets and actual output figures.
2Details on cost management strategies and any changes in production costs.
3Insights into market demand for gold and pricing trends.
4Any commentary on geopolitical factors affecting gold prices.
5Management's outlook for the remainder of the fiscal year.